UNQUOTE

ITALY – Ambienta reaches first closing on EUR 124m

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Ambienta has reached the first closing of its first vehicle, Ambienta I on EUR 123.75m. Commitments were provided by Italian and financial institutions, industrial groups and Italian and international private investors. The second fundraising stage, which will see the GP seek a a further EUR 125m, is reserved for qualified Italian and foreign investors.

The fund will look to carry out 15 investments (majority and significant majority stakes) in the environmental sector worldwide. Emphasis will be given to projects in the areas of renewable energy sources, bio-fuels, energy efficiency, pollution reduction, water and waste management.

Ambienta' s management team hold a 70% stake in the fund. Intesa Sanpaolo Group and various Italian entrepreneurs hold the remaining 20% and 10% contributing EUR 40m and EUR 30m to the fund respectively.

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